boom

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Boom

A period of rapid, strong economic and/or stock growth. For example, some developing countries post GDP growth of 10-12% per year, especially after they have liberalized their economic policies. Likewise, some stocks may become suddenly very popular, resulting in a boom. The dot-com bubble is one of the most famous examples of a stock boom. The problem with booms is that the growth is rarely sustainable, as investors become more and more speculative and take needless risks. Thus, most booms ultimately result in busts. Many economists believe the boom-and-bust cycle is an inevitable part of doing business, while others believe that government regulation can limit both booms and busts.

boom

see BUSINESS CYCLE.

boom

a phase of the BUSINESS CYCLE characterized by FULL EMPLOYMENT levels of output (ACTUAL GROSS NATIONAL PRODUCT) and some upward pressure on the general PRICE LEVEL (see INFLATIONARY GAP). Boom conditions are dependent on there being a high level of AGGREGATE DEMAND, which may come about autonomously or be induced by expansionary FISCAL POLICY and MONETARY POLICY. See DEMAND MANAGEMENT.
References in periodicals archive ?
In The Crime Drop in America, editors Alfred Blumstein and Joel Wallman concentrate on trying to explain the crime bust of the 1990s.(17) However, they also make frequent reference to the crime boomlet of the mid-1980s, and to a lesser extent, to earlier violent crime trends.(18) Blumstein is director of the National Consortium on Violence Research and Wallman is Program Officer at the Harry Frank Guggenheim Foundation--two organizations that have funded a great deal of research on violence and aggression in the past decade.
Blumstein shows that the entire increase in homicides during the crime boomlet of the mid-1980s can be attributed to rising handgun use among kids and young adults under twenty-five years old.(26) He also shows that these patterns were especially pronounced for young, African American men and for big cities.(27) What is especially striking about Blumstein's presentation of disaggregated violent crime trends is how dramatically they increase in the mid-1980s for young men using handguns.(28)
Personal matters, not to put too fine a point on it, always rear their Medusa heads just as Kennedy boomlets begin: the drowning, the divorce, even that old college cheating scandal.